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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

Download MT4 template file

Trade Setup

#CHFJPY
Total Profit: 964 pip
Closed trade(s): 152 pip Profit
Open trade(s): 812 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 109.68 (day close price) based on 'Hammer' at 2018.05.29 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 111.20 touched at 2018.06.04 with 152 pip Profit.

Open Profit:
Profit for one trade is 110.83(current price) - 109.68(open price) = 116 pip
7 trade(s) still open, therefore total profit for open trade(s) is 116 x 7 = 812 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJune 16, 2018 - 12:34
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 108.350, beginning of uptrend is expected.
  • We make sure when the resistance at 112.250 breaks.
  • If the support at 108.350 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 112.20 on 06/07/2018, so more losses to support(s) 110.30 and minimum to Major Support (108.35) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 49.

Take Profits:

  1. 111.20
  2. 112.25
  3. 113.40
  4. 114.70
  5. 116.45
  6. 117.35
  7. 118.55
Click on the level to view price action history.